The Eternal Freedom pistol skin is so large and off center that it covers your point of aim, preventing you from seeing the point of impact anywhere past blunderbuss distance. Pics are at the exact same point of aim and distance.
Eternal Freedom Pistol Blocks Sight
Edit because pictures aren't posting correctly for me. Links are to Imgur.
Point of Impact
Point of AimAlot of the more elaborate pistols have less than useful sight pictures. It's kind of a choice between fancy looks or simple functionality. If you want sights for hitting long range pistol shots, go with the sea dog or obsidian models, using whatever color scheme you want.
Remember that the ball comes out of the barrel so, if you have thick decorations on top, the higher it looks like you will have to aim (but really you are aiming the barrel at the same height on all pistols).
Honestly, the differences dont matter too much as you should be always aiming center mass, headshots do the same damage as belly shots.
I actually did post this with links in the bug thread, and I was told to post them here. As for the whole deal with fashion over function, while that may make sense in the real world, this is a game where such limitations need not apply. I don't feel like anyone should have to choose between the two, especially when the fashion - in this case and others - comes at the cost of ancient coins, and especially when said reskin doesn't come at any other advantage or disadvantage, since every pistol in the game has the same hard stats.